413 Us HwyLake Placid, FL 33852

Property Details for 413 Us Hwy

Year built

1978

Lot size

1.02 AC

Property size (Sq ft)

5,758 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 5,758 square foot, single-tenant retail storefront located at 413 US Hwy 27, Lake Placid, FL 33852. The property is 100% occupied by Trulieve, a leading Florida cannabis operator, under a new 10-year absolute NNN lease with two five-year options, ensuring minimal landlord responsibilities. The lease includes annual rent increases of 3%. The building, constructed in 1978 and extensively renovated in 2024, sits on a 1.02-acre lot with ample parking (12 spaces per 1,000 sq ft) and benefits from a prime location on US Highway 27, a major thoroughfare boasting an annual average daily traffic count of 18,700 vehicles. The property's strategic position across from a large Publix-anchored shopping center further enhances its visibility and accessibility. The surrounding area demonstrates strong demographics, with a population of 10,755 residents within a three-mile radius and an average household income of $66,697. The property is zoned C1 - Neighborhood Commercial and offers a stabilized investment with a 6.50% cap rate and a net operating income (NOI) of $116,424. The asking price is $1,791,138, translating to a price per square foot of $311.07. This is a fee-simple ownership opportunity with no ground lease. The property features one building, one story, and is classified as Class C.

Location Insight

City

Lake Placid

County

Highlands

State

Florida

Latitude

27.3006

Longitude

-81.3582

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